Carret Asset Management LLC Cuts Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Carret Asset Management LLC reduced its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 67.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,475 shares of the bank’s stock after selling 31,966 shares during the quarter. Carret Asset Management LLC’s holdings in Huntington Bancshares were worth $216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of HBAN. Kowal Investment Group LLC bought a new position in shares of Huntington Bancshares during the 1st quarter valued at $150,000. Diversified Trust Co purchased a new position in Huntington Bancshares in the first quarter worth about $450,000. Cornerstone Wealth Group LLC bought a new stake in shares of Huntington Bancshares during the 1st quarter valued at about $255,000. First Bank & Trust increased its position in shares of Huntington Bancshares by 11.7% during the 1st quarter. First Bank & Trust now owns 194,301 shares of the bank’s stock valued at $2,710,000 after purchasing an additional 20,408 shares during the last quarter. Finally, MCF Advisors LLC lifted its stake in shares of Huntington Bancshares by 51.6% in the 1st quarter. MCF Advisors LLC now owns 4,425 shares of the bank’s stock worth $62,000 after purchasing an additional 1,506 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on HBAN. Royal Bank of Canada reaffirmed an “outperform” rating and set a $16.00 target price on shares of Huntington Bancshares in a report on Tuesday, June 11th. Morgan Stanley decreased their target price on Huntington Bancshares from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, June 12th. Evercore ISI decreased their price objective on Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. JPMorgan Chase & Co. cut their price objective on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Finally, StockNews.com cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $14.97.

Huntington Bancshares Stock Down 1.3 %

NASDAQ HBAN opened at $13.04 on Thursday. The stock has a 50 day moving average price of $13.39 and a 200-day moving average price of $13.16. Huntington Bancshares Incorporated has a one year low of $9.25 and a one year high of $14.30. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $18.90 billion, a P/E ratio of 11.75, a P/E/G ratio of 2.51 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same quarter in the previous year, the company posted $0.38 EPS. As a group, equities analysts predict that Huntington Bancshares Incorporated will post 1.18 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 17th were issued a $0.155 dividend. The ex-dividend date was Monday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.75%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Insider Transactions at Huntington Bancshares

In related news, insider Helga Houston sold 7,278 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $13.64, for a total value of $99,271.92. Following the sale, the insider now directly owns 648,904 shares of the company’s stock, valued at approximately $8,851,050.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Helga Houston sold 7,278 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total transaction of $99,271.92. Following the completion of the transaction, the insider now owns 648,904 shares in the company, valued at approximately $8,851,050.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Brantley J. Standridge sold 50,000 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total value of $680,000.00. Following the completion of the sale, the vice president now owns 385,409 shares in the company, valued at approximately $5,241,562.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,829 shares of company stock worth $2,148,623. 0.92% of the stock is currently owned by insiders.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.